FOX (FOX) shares surged Tuesday after the media large reported better-than-expected quarterly outcomes and introduced on its earnings name that it plans to launch a streaming service by the top of the yr.

FOX posted fiscal 2025 second-quarter web earnings of $373 million, or $0.81 per share, on $5.08 billion in income. Analysts polled by Seen Alpha anticipated revenue of $301.1 million, or $0.66 per share, on $4.83 billion in income.

«A compelling fall sports activities schedule mixed with a record-breaking presidential election information cycle resulted in second quarter outcomes that mirror the energy and breadth of FOX,» CEO Lachlan Murdoch mentioned. «Whether or not measured by way of engagement, monetization or profitability, our targeted technique of stay information and sports activities programming, coupled with our rising digital initiatives, continues to ship.»

FOX Sells Out Tremendous Bowl LIX Adverts

FOX shall be televising Tremendous Bowl LIX on its flagship channel Sunday, in addition to streaming it on its ad-supported, free Tubi service.

«We’re bought out with a document pricing for this Sunday’s Tremendous Bowl 59,» Murdoch mentioned on the earnings name, in accordance with a transcript offered by AlphaSense. «We won’t watch for the large sport.» 

Murdoch added the corporate is planning to launch a direct-to-consumer (DTC) streaming service by the top of 2025. «By way of timing and launch, we’re definitely focusing on a launch by the top of this calendar yr,» Murdoch mentioned.

Final month, FOX, The Walt Disney Co. (DIS), and Warner Bros. Discovery (WBD) known as off their joint streaming enterprise Venu Sports activities before it could launch.

FOX shares superior 4% Tuesday morning. They’re up practically 75% over the past 12 months.